Regal Petroleum shares slide after Ukraine problems

Regal Petroleum's shares have lost nearly a quarter of their value after the oil and gas company revealed a dispute in Ukraine.

Regal said a letter dated 30 March from the minister of environmental protection identified problems with the company's compliance with various bits of legislation. The ministry requested a halt to operations while the matter was rectified. However Regal said it only received this order on 21 May, and immediately began talks with the government. It said these discussions should lead to the problem being rectified, and it has received assurances its does not after all have to suspend operations while the talks continue.